中国寿险业市场结构、效率与绩效实证研究

本文使用2001~2004年的中国寿险业相关数据,对中国寿险业的市场结构、成本效率和经营绩效的相互关系进行了实证研究。目前中国寿险业是市场集中度极高的市场结构类型,这种高集中度虽然在逐渐下降,但是短时间内寡头垄断的局面并未被打破。利用SFA技术进行测定寿险公司的成本效率。市场力量假说和效率结构假说检验结果表明,我国寿险公司绩效水平主要取决于市场结构,而成本效率对寿险公司绩效水平影响为负,但并不是很显著,实证研究结论支持了市场力量假说。

Empirical Research of the Market Structure, Efficiency and Performance of Life Insurance Industry in China

Using the life insurance industry linked data between 2001 and 2004 in China, this paper empirically studies the relationship of the market structure, cost efficiency and operating performance. It points out that the market structure of the life insurance industry in China is a type of highly concentrated-degree one . The concentrated-degree is decreasing, but the ol- igarch monopoly phase cannot be broken in the short term. And we estimate the cost efficiencies of the life insurers using the SFA technique. The test of the market power hypothesis and the efficiency structure hypothesis shows that the operating per- formance of life insurers depends much on the market structure and the cost efficiency has a negative but not distinct impact on the performance in China. And the empirical research supports the market hypothesis.